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During the first six months of 2002, the Barbadian economy is estimated to have contracted by 2.5%, almost double the rate recorded in the comparable period of 2001, and in contrast to the average expansion of 2.8% over the eight previous years. The decline in economic activity was broad-based, with the traded sectors especially hard-hit by plummeting tourism and sugar output. Non-traded activity was negatively affected by the poor performances of the construction and wholesale and retail sectors as well as the fall in the overall level of aggregate demand in the economy. As a consequence of the downturn, the unemployment rate crept up slightly in the second quarter after registering steady decreases over the past five years.